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Changes in hours worked normally track employment changes very closely. Recently, however, employment has increased more than hours, resulting in an unprecedented gap. In effect, the average annual hours worked have decreased by the equivalent of two weeks. Many factors can affect the hours worked. Some are structural or cyclical — population aging, industrial shifts, the business cycle, natural disasters, legislative changes or personal preferences. Others are a result of the survey methodology. How have the various factors contributed to the recent drop in hours of work?
The G8 countries have only 13% of the world's population, but they account for 46% of the global economy. Despite being the smallest member of the group, Canada's GDP per capita puts it near the top of the economic ranking. This article presents selected indicators from various sources to describe how Canada compares with the other members of the G8, highlighting changes since the early 1990s.
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